Market Insights Snapshot
In Massachusetts, Local Roots has shown a varied performance across different cannabis product categories over the recent months. Particularly noteworthy is their trajectory in the Concentrates category, where they improved their ranking from 18th in October 2023 to 11th in December 2023, before experiencing a slight drop to 15th in January 2024. This fluctuation, alongside their sales peaking in December 2023 at $96,686, suggests a competitive edge in this category that may be influenced by market dynamics or consumer preferences. Conversely, their performance in the Flower category has seen a significant decline, dropping from the 16th position in October 2023 to 44th by January 2024, which indicates a loss of market share and possibly consumer interest in their offerings in this highly competitive segment.
Looking at other categories, Local Roots has had a challenging time making a significant impact within the Vapor Pens category, with rankings consistently outside the top 50, though they showed slight improvement moving from 89th in October 2023 to 67th in January 2024. This could reflect challenges in brand visibility or consumer preference within this market segment. On a more positive note, their Pre-Roll products have seen substantial improvement, moving from a ranking outside the top 50 in October 2023 to 26th by January 2024. This remarkable ascent, coupled with a notable increase in sales from $65,940 in October 2023 to $163,837 in January 2024, highlights a growing consumer interest and possibly an effective strategic focus on this category by Local Roots in Massachusetts, suggesting a potential area for further growth and market penetration.
In the competitive landscape of the Flower category in Massachusetts, Local Roots has experienced notable fluctuations in rank and sales over the recent months. Initially ranked 16th in October 2023, Local Roots saw a decline to 31st in November, further dropping to 48th in December, before slightly recovering to 44th in January 2024. This trajectory indicates a challenging period for Local Roots, especially when compared to competitors like INSA and Neighborgoods, which have shown more stability or less drastic rank changes in the same timeframe. Notably, INSA maintained positions within the top 42 across these months, suggesting a more consistent market presence. Conversely, Neighborgoods, despite a significant rank drop in November, managed a quicker recovery by January. This competitive analysis highlights the importance of monitoring both rank and sales trends, as Local Roots navigates its position within a fluctuating market against formidable brands.
In January 2024, Local Roots saw Blue Dream x Blowfish Pre-Roll (1g) from the Pre-Roll category maintain its top position for the third consecutive month, with sales reaching 3803 units. Following closely, Golden Goat Pre-Roll (1g) climbed from the fifth to the second spot, marking a significant improvement in its sales performance. New to the top three, Jack Skunk (3.5g) from the Flower category made an impressive debut at the third rank. Pura Vida Pre-Roll (1g) and Jack Skunk Pre-Roll (1g) also showed notable presence by securing the fourth and fifth positions, respectively. These rankings highlight a strong preference for Pre-Roll products among Local Roots customers, with three out of the top five products belonging to this category.